Naira gains against dollar at official forex market

The naira recorded its first gain against the US dollar at the official foreign exchange Market this week.

FMDQ data showed an appreciation of N1,390.96 per dollar on Tuesday from N1,419.11 on Monday.

This represents a N28.15 or 1.98 per cent gain against the dollar at the forex market compared to N1,419.11 it traded the previous day.

The naira has continued to depreciate against the dollar in the official market for days until Tuesday.

Meanwhile, at the parallel market, the naira depreciated to N1,360 per dollar on Tuesday from N1,280 the previous day.